The cryptocurrency XRP has recently seen a price rebound, attracting market attention. On-chain data and market indicators indicate increased activity from large investors (whales).
The XRP price has rebounded after a recent correction, demonstrating strong momentum in the short term. For example, one analysis showed that XRP surged more than 37% from a low level as it rose again.
On-chain metrics report several indicators of increased whale activity. One on-chain analysis shows that whale transactions have reached their highest level in months, and the number of wallets holding more than 1 million XRP has reached a record high.
Additionally, another analysis found that whales have accumulated tens of millions of additional XRP over the past week, suggesting that large investors may be continuing to accumulate.
Meanwhile, demand for institutional investors and ETFs is also being discussed in the market. Analysts are reporting that the increasing assets under management of XRP spot ETFs is impacting market liquidity.
Market analysts suggest that the accumulation of XRP by whale wallets and increased demand for ETFs are having a significant impact on the XRP supply and demand environment. However, given the high short-term price volatility, the prevailing view is that additional indicators are needed to interpret this trend as a medium- to long-term trend.
